A billionaire is an individual with a net worth of at least one billion units in their native currency, such as dollars or euros. In other words, if a person owns assets that are worth 1.2 billion and owes 150,000 in total, they can be considered a billionaire. Assets can range from cash and cash equivalents to real estate and business and personal property. Since 1987, Forbes has ranked the wealthiest global citizens according to their net worth.
Key Takeaways
A billionaire has anet worthof at least one billion units in their native currency.
Net worth is the value of a person'sassets, minus theliabilitiesthey owe.
Billionaires can havea variety of assets, including cash and cash equivalents,real estate, and business and personal property.
Forbes has been ranking the world's billionaires since 1987.
Net worth fluctuates and billionaire status can be lost.
Calculating Net Worth
In the United States, a billionaire is a person with a net wealth of a billion dollars, or $1,000,000,000. Billionaires in other countries are defined by other monetary units. For example, a billionaire in the eurozone has a net worth of €1 billion, while a billionaire in the United Kingdom has £1 billion or more.
Subtracting liabilities from assets calculates an individual's net worth. A billionaire's assets are anything they own that has monetary value. That may include cash and liquid investments and personal property such as real estate, jewelry, boats, and cars. Business interests, such as equipment and commercial properties, are also included if the individual holds a personal stake in a corporation.
Forbes magazine publishes a list of the world's billionaires every year in March. When Forbes produced the first list in 1987, there were 140 billionaires. According to Forbes' 2023 report, the United States has the most billionaires, with 735 list members worth a collective $4.5 trillion. Globally, there were 2,640 billionaires, as of March 2023.
Forbes also provides a list of billionaires in real-time online. This list can vary from the annual one because the value of assets and liabilities fluctuates.
On Feb. 5, 2024, Bernard Arnault, the founder, CEO, and chairman of luxury goods company Moët Hennessy Louis Vuitton (LVMH), and his family topped the latest Forbes list with a net worth of $211.1 billion. The rest of the top five consisted of tech entrepreneurs. Elon Musk, the owner of various companies including Tesla and X, was second, followed by Amazon founder Jeff Bezos, Meta founder Mark Zuckerberg, and Oracle co-founder Larry Ellison.
Readers can isolate names on the Forbes billionaire list by country, industry, and age group.
Net worth isn't a fixed value. The value of assets and liabilities fluctuates and the number of billionaires in the world can change every day.
Fluctuating Net Worth
You may have noticed that the richest person on the planet changed frequently in certain periods. Often this is due to assets owned changing in valuation.
Fluctuating share prices are a prime cause of shifting net worths. A person's stake in a company can account for a big chunk of their assets and these stakes constantly change in value throughout the day.
If, for example, LVMH or Tesla's share price were to rally or plummet, this could have a big effect on Bernard Arnaut's or Elon Musk's net worth.
Which Countries Have the Most Billionaires?
In March 2023, the United States had the most billionaires with 735. China ranked second with 495, and India ranked third with 169.
Who Ranked First on Forbes' Original 1987 Billionaires List?
Who Are the Top 3 Billionaires in the United States?
The top three billionaires in the U.S., as of Feb. 16, 2024, are Elon Musk, Jeff Bezos, and Mark Zuckerberg.
The Bottom Line
A billionaire has anet worthof at least one billion units in their native currency, such as dollars or euros. Net worth is calculated as assets minus liabilities or debts. A billionaire's assets may include cash and cash equivalents,real estate, and business and personal property. Forbes has been ranking the world's billionaires since 1987. In 2023, the United States had the most billionaires globally.
In the United States, a billionaire is a person with a net wealth of a billion dollars, or $1,000,000,000. Billionaires in other countries are defined by other monetary units. For example, a billionaire in the eurozone has a net worth of €1 billion, while a billionaire in the United Kingdom has £1 billion or more.
A billionaire is a person with a net worth of at least one billion (1,000,000,000, i.e., a thousand million) units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling.
It can be hard to grasp just how much more money $1 trillion is than $1 billion. Basically, $1 trillion is equal to 1,000 billion dollars, which itself equals 1,000 million dollars, Investopedia said. Simply put, a trillionaire would be the custodian of a "phenomenal sum of money."
Clemente was at one time the world's youngest billionaire (at the age of 18), but he has since aged out of that title, which is now held by Livia Voigt.
Upper-Middle Class (Next 20%): The median net worth is $201,800. This group often enjoys more discretionary income and benefits from long-term investments. Wealthy (Top 20%): The median net worth is $608,900. This group often represents older individuals who have accumulated significant savings and investments.
The financial news outlet said she is the first artist to achieve billionaire status solely on the basis of her music, and estimated she has a $1.1 billion fortune.
Someone who has $1 million in liquid assets, for instance, is usually considered to be a high net worth (HNW) individual. You might need $5 million to $10 million to qualify as having a very high net worth while it may take $30 million or more to be considered ultra-high net worth.
FIRST BILLIONAIRE: In 2000, Martha Stewart became America's first self-made female billionaire. She first hit billionaire status in 2000 after taking her company, Martha Stewart Living Omnimedia, public a year earlier.
No individual has claimed the status of trillionaire just yet. But a net worth equal to at least one trillion in U.S. dollars or a similarly valued currency isn't unattainable, but it will be a couple of years yet. Only 18 countries have a GDP that exceeds that amount. The World Bank.
Billionaires are known for their extravagant lifestyles, and one of the most luxurious ways they spend their wealth is by owning yachts and private islands. These two assets allow them to escape from the hustle and bustle of everyday life and immerse themselves in opulence and luxury.
Zillion sounds like an actual number because of its similarity to billion, million, and trillion, and it is modeled on these real numerical values. However, like its cousin jillion, zillion is an informal way to talk about a number that's enormous but indefinite.
quadrillionaire (plural quadrillionaires) Somebody whose wealth is greater than one quadrillion units of the local currency. (by extension) An extremely wealthy person.
Among the findings, Oxfam highlighted how the personal fortunes of the world's five richest people — Tesla CEO Elon Musk, Bernard Arnault and his family of luxury company LVMH, Amazon founder Jeff Bezos, Oracle founder Larry Ellison and investment guru Warren Buffett — have more than doubled since 2020.
The World's Billionaires is an annual ranking of people who are billionaires, i.e., they are considered to have a net worth of US$1 billion or more, by the American business magazine Forbes. The list was first published in March 1987.
Our definitions for “rich” and similar concepts come from the Pew Research Center's definition of “upper wealth tier” (net worth four times the median); Gallup polling about the net worth Americans would need to feel rich from 2011 and 2003 ($1 million, adjusted to $1.394 million for inflation); the definition of “high ...
In the U.S., it may take you $5.81 million to be in the top 1%, but it takes a minimum net worth of $30 million to be considered among the ultra-high net worth crowd. As of the end of 2023, this ultra-high net worth population is on the rise, reaching 626,000 globally, up from just over 600,000 a year earlier.
Hobby: Web surfing, Skiing, role-playing games, Sketching, Polo, Sewing, Genealogy
Introduction: My name is Maia Crooks Jr, I am a homely, joyous, shiny, successful, hilarious, thoughtful, joyous person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
:max_bytes(150000):strip_icc()/networth-926ffdd610084372ac2f8188feaf6c6d.jpg "What Is a Billionaire? (1)")
